Franklin Resources, Inc. (NYSE:BEN) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

BEN has been the topic of a number of other reports. Zacks Investment Research raised Franklin Resources from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, October 3rd. BidaskClub lowered Franklin Resources from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $44.00 target price on shares of Franklin Resources in a research report on Thursday, August 3rd. Finally, Wells Fargo & Company dropped their target price on Franklin Resources from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Franklin Resources currently has a consensus rating of “Hold” and a consensus target price of $44.45.

Franklin Resources (NYSE:BEN) opened at $40.48 on Friday. The company has a market capitalization of $22,422.20, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.39 and a beta of 1.75. Franklin Resources has a one year low of $38.54 and a one year high of $47.65. The company has a debt-to-equity ratio of 0.08, a quick ratio of 9.20 and a current ratio of 8.75.

Franklin Resources (NYSE:BEN) last issued its quarterly earnings data on Thursday, October 26th. The closed-end fund reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Franklin Resources had a return on equity of 13.48% and a net margin of 26.54%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. sell-side analysts expect that Franklin Resources will post 2.91 EPS for the current year.

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In related news, Chairman Gregory E. Johnson sold 56,825 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $42.83, for a total value of $2,433,814.75. Following the completion of the sale, the chairman now directly owns 2,047,273 shares of the company’s stock, valued at $87,684,702.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 21.60% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Franklin Resources by 1.2% in the second quarter. Vanguard Group Inc. now owns 27,248,491 shares of the closed-end fund’s stock valued at $1,220,459,000 after buying an additional 318,449 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Franklin Resources by 1.2% during the second quarter. BlackRock Inc. now owns 21,369,185 shares of the closed-end fund’s stock valued at $957,127,000 after purchasing an additional 249,766 shares during the last quarter. Pzena Investment Management LLC grew its holdings in shares of Franklin Resources by 2.4% during the second quarter. Pzena Investment Management LLC now owns 10,348,419 shares of the closed-end fund’s stock valued at $463,506,000 after purchasing an additional 246,306 shares during the last quarter. Kiltearn Partners LLP grew its holdings in shares of Franklin Resources by 0.8% during the second quarter. Kiltearn Partners LLP now owns 6,118,700 shares of the closed-end fund’s stock valued at $274,057,000 after purchasing an additional 50,100 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Franklin Resources by 35.9% during the third quarter. Bank of New York Mellon Corp now owns 4,874,451 shares of the closed-end fund’s stock valued at $216,961,000 after purchasing an additional 1,288,818 shares during the last quarter. 46.01% of the stock is owned by hedge funds and other institutional investors.

About Franklin Resources

Franklin Resources, Inc is a holding company. The Company, along with its subsidiaries, operates as Franklin Templeton Investments. It is a global investment management company that provides investment management and related services to retail, institutional and high net-worth clients in jurisdictions around the world.

Analyst Recommendations for Franklin Resources (NYSE:BEN)

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